The first dog-themed meme token created to compete with Dogecoin and Shiba Inu on the Solana (SOL) network, Bonk (BONK), is seen to be overlooked despite its initial excitement in the early days of 2023.
Bonk is struggling to compete with other dog-themed cryptocurrencies such as Dogecoin (DOGE) and Shiba Inu (SHIB). However, it may still be unfinished due to Solana’s connection to launching smartphones. Despite experiencing a slowdown in 2023, it made a comeback during a strong rally in the cryptocurrency market in November and showed an extraordinary increase of 2,000% in the last 30 days according to CoinMarketCap’s latest data.
Despite the scandals, Binance, the world’s largest volume cryptocurrency exchange, announced on Wednesday, November 22, that it added perpetual futures trading support for Bonk. This could be another support for the meme token.
Despite having lower popularity compared to popular meme coins such as Dogecoin, Floki Inu (FLOKI), or Pepe (PEPE), Bonk’s rise in the current cryptocurrency rally has become even more remarkable.
At the time of writing, Bonk was trading at $0.000004376. Despite a 3% increase in the last 24 hours, it exhibited a relatively low price movement. Experiencing an upward price movement since November 9, Bonk showed significant and stable price movements, increasing by 59.91% in the past seven days and 1260% compared to the previous month.